Hassan Maishera
Digital asset management firm Aspen Digital has raised over $8 million in a funding round led by the Jacob Rothschild-founded investment trust RIT Capital Partners.
RIT Capital Partners leads funding round
Hong Kong-based digital asset management platform Aspen Digital announced earlier today that it had raised $8.8 million in the pre-A funding round. The firm said it intends to use the funds to offer digital asset management to institutional and sophisticated investors.
In its press release earlier today, Aspen Digital said the investment round was led by the Jacob Rothschild-founded investment trust RIT Capital Partners. “Aspen Digital, a digital asset investment platform tailored for asset managers, institutions and other professional investors, has secured $8.8 million in pre-A funding as it vows to develop the leading solution to serve the surging institutional crypto investment demand,” the firm wrote.
Other investors include Liberty City Ventures, an early venture investor in the blockchain industry, Cherubic Ventures, Token Bay Capital, Somerley Capital, and Chatchaval Jiaravanon & Chaval Jiaravanon.
According to its official website, Aspen Digital offers an innovative and complete solution for asset managers to invest in cryptocurrencies. Investors can also manage their portfolios with ease using the Aspen platform.
The unique, all-in-one platform is designed to address the pain points nagging traditional investors who are new to the cryptocurrency space. It intends to solve problems like choosing suitable exchanges and wallets and other compliance procedures.
Aspen stated that “The new funds will be deployed to expand the core team and establish new offices in major financial hubs. In addition to its current Hong Kong office, a second headquarters in London will be added later this year to serve clients in Europe and the Middle East. Aspen Digital also plans to establish a Singapore office to target the Southeast Asia market.”
The cryptocurrency space has seen an influx of institutional investors in recent months. Several institutions now regard Bitcoin and other cryptocurrencies as stores of value and hedge against inflation.
